In order to be eligible for a loan from the OBEP Fund, the Department must first find:

1. (1) That, at the time a loan from the OBEP Fund is considered for approval, the Business:

   1. (a) Has at least 150 employees as demonstrated by documentation determined to be acceptable by the Department;
   2. (b) Is a traded sector business, as defined in ORS 285A.010;
   3. (c) Is not a retailer, as defined in ORS 72.8010;
   4. (d) Plans to hire at least 50 full-time Eligible Employees before the end of the two calendar years following the year in which the OBEP loan is approved;
   5. (e) Has stated to the Department that a loan from the OBEP was an integral factor in the Business’s decision to hire at least 50 full-time Eligible Employees; and
   6. (f) Has provided all information to the Department as requested and as required by the Oregon Business Retention and Expansion Program;
2. (2) That the Business’s proposed expansion will result in significant, long-term economic benefit in the region and will serve as a catalyst for additional economic development benefits in the state.

Statutory/Other Authority

ORS 285A.075, 285B & OL Ch. 549, Sec. 1-8 & 10-11

Statutes/Other Implemented

ORS 285B, OL Ch. 549, Sec. 1-8 & 10-11

History

OBDD 4-2012, f. 3-30-12, cert. ef. 4-2-12